Home
Current Affairs January 2024

What is the correct answer?

4

In relation to Excise Duty form AR-1 is to be submitted for clearing goods under

A. Physical Control System

B. Self Control System

C. Both (a) and (b)

D. None of the above

Correct Answer :

A. Physical Control System


Related Questions

What is the correct answer?

4

The basic objective of service tax is

A. Broadening the tax base

B. Augmentation of Revenue

C. Larger participation of citizens in the economic development of the nation .

D. All of the above.

What is the correct answer?

4

Service Tax is levied by the Central Government

A. True

B. False

What is the correct answer?

4

Excise Duty is to be paid through ________________ challan.

A. TR - 6

B. TR - 3

C. ST - 6

D. ST - 3

What is the correct answer?

4

Service Tax is administered by

A. Central Excise Commissionerate

B. Service Tax Commissionerate

C. CBDT

D. None of the above

What is the correct answer?

4

There is a provision of remission of Excise duty in case of destruction of goods by natural causes only.

A. True

B. False

What is the correct answer?

4

A 100% Export Eriented Undertaking is exempted from obtaining registration.

A. True

B. False

What is the correct answer?

4

In case of non-payment of excise duty, interest is to be paid @ ____________on the amount of unpaid duty, or, _________ per day, whichever is higher.

A. 15%, Rs.1000

B. 24%, Rs.1,000

C. 24%, Rs.500

D. 15%, Rs.500

What is the correct answer?

4

A person manufacturing excisable goods with "nil rate" of Excise Duty does not have to apply for registration.

A. True

B. False

What is the correct answer?

4

In a financial year, turnover of upto _________________ is exempted from payment of Central Excise duty.

A. Rs.50 lakhs

B. Rs.1 Crore

C. Rs.2 Crore

D. None of the above

What is the correct answer?

4

Return of Service Tax is to be furnished to be to the Superintendent of ______________ in Form ______________.

A. Service Tax, ST-3

B. Central Excise, ST-3

C. Service Tax, TR-6

D. Central Excise, TR-6

What is the correct answer?

4

Service tax is administrated by

A. Central excise commissionerates

B. Service tax commissionerates

C. CBDT

D. None of the above

What is the correct answer?

4

A manufacturer may be exempted from payment of excise duty if he proves that the goods are unfit for consumption.

A. True

B. False

What is the correct answer?

4

SSI units availing CENVAT can clear their goods upto Rs. 1 Crore @ ____________of tariff duty.

A. 10%

B. 25%

C. 50%

D. 60%

What is the correct answer?

4

In relation to Excise Duty, fresh application for registration has to be made for an already registered concern, in case of

A. Death of a director of a limited company

B. Death of a partner of a partnership firm

C. Death of an individual manufacturer

D. Both (b) and (c)

What is the correct answer?

4

A SSI unit opting for non-CENVAT facility has to pay duty after crossing turnover of ____________ at full rate of tariff duty.

A. Rs.1 Crore

B. Rs. 50,000

C. Rs.25,000

D. Rs.5,000

What is the correct answer?

4

In relation to Excise Duty, under Physical Control System, goods can be removed on any day, at any time.

A. True

B. False

What is the correct answer?

4

In case of excise dutty the duplicate copy of invoice is for the

A. Buyer

B. Transporter

C. Assessce

D. None of the above

What is the correct answer?

4

Excise Duty is payable at the time of completion of manufacture of goods.

A. True

B. False

What is the correct answer?

4

In India service tax had been levied on the recomendation of

A. Tax Reforms Commitee

B. Ministry of Finance

C. CBDT

D. Revinue Minister

What is the correct answer?

4

The claim for refund of excess Service Tax paid has to be made within _______________ from the date of payment of excess tax.

A. 3 Months

B. 6 Months

C. 1 Year

D. None of the above

What is the correct answer?

4

In case of removal of goods to be destroyed under supervision of Central Excise Officer, the invoice should indicate

A. Zero' duty

B. Nil' duty

C. Exempted

D. No' Duty

What is the correct answer?

4

The registration certificate obtained from excise authorities is to be exhibited at the registered premises.

A. True

B. False

What is the correct answer?

4

Service tax is payble on service even if provided is abrod

A. True

B. False

What is the correct answer?

4

The annual turnover of a SSI unit (under non-CENVAT SCHEME) is Rs.60 Lakhs. The amount of duty payable by him is

A. Rs.36 Lakhs

B. Rs.36,000

C. Rs.24 Lakhs

D. None of the above

What is the correct answer?

4

PLA stands for

A. Personalised Ledger Account

B. Personal Ledger Account

C. Privilege Leave Allowed

D. Personal Ledger Amount

What is the correct answer?

4

Service tax is an example of

A. Direct Tax

B. Indirect Tax

C. Mixed Tax

D. None of the above

What is the correct answer?

4

There is no service tax on

A. sale of service

B. export of service

C. Both of the above

D. None of the above

What is the correct answer?

4

Form ST-3, in connection with Service Tax, is to be filed on half-yearly basis.

A. True

B. False

What is the correct answer?

4

In relation to central Excise, under Physical Control System, goods can be removed on any day, at any time.

A. True

B. False

What is the correct answer?

4

In case of service tax all appeals , relating to matters of valuation & classification , against order of Tribunnal lies with the

A. Supreme Court

B. High Court

C. District Court

D. None of the above